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President Obama Negotiates Debt Ceiling and Federal Budget

Monday, July 11, 2011

Speaker of the House John Boehner, President Barack Obama and Senate Majority Leader Senator Harry Reid sit before a meeting in the Cabinet Room of the White House on July 10, 2011 in Washington, DC.
(Brendan Smialowski/Getty Images/Getty)

David Sanger, chief Washington correspondent for the New York Times, joins Kerry Nolan to discuss the debt showdown in Washington. President Obama will hold a press conference at the White House this morning ahead of today's bargaining session on raising the nation's debt ceiling and slashing the budget. So far, the bi-partisan talks haven't borne any fruit and the August 2nd deadline looms. The question is: Will there be a $4 trillion package or one half that size?